Hashdex Applies for Crypto Index ETF, Could Include LINK, AVAX, and LTC

Crypto asset management firm Hashdex is looking to launch a Crypto Index ETF in the United States, and according to the most recent filing, the ETF could include AVAX, LINK, and LTC.

The amendment was filed on Nov. 25, and if approved, this would be the first exchange-traded fund (ETF) in the United States to feature altcoin exposure. However, it would not include Solana.

Avalanche, Chainlink, and Litecoin fit the proposed criteria as all three assets have active tradable markets on two “core crypto platforms,” are supported by at least one “core custodian,” maintain a median daily trading volume of no less than 0.5% of the cryptocurrency asset with the highest median daily volume, are listed on a U.S. regulated crypto asset trading platform, and have a free-floating price.

According to Hashdex, Solana does not fit criteria number four, which is defined as “Be listed (at the time of the inclusion) on a U.S.-regulated crypto asset trading platform or serve as the underlying asset for a derivative instrument listed on a U.S.- regulated derivatives platform.”

Hashdex currently boasts $1.2 billion in assets under management (AUM) and launched the HASH11, the first crypto index ETF in Brazil.

The amendment comes just days after $5 billion asset manager Bitwise entered the race for a spot Solana ETF.